What is this "velvetsea.net" thing?

The musical group Phish has a song titled "Wading in the Velvet Sea" which I happen to like quite a bit. The song goes something like this (well, actually it goes exactly like this):

I took a moment from my day
wrapped it up in things you say
mailed it off to your address
you'll get it pretty soon unless

the packaging begins to break
and all the points I tried to make
are tossed with thoughts into a bin
time leaks out my life leaks in

you won't find moments in a box
and someone else will set your clocks
I took a moment from my day
wrapped it up in things you say
and mailed it off to you